Infosys to acquire Noah Consulting for $70-mn

19 Oct 2015

Infosys, India's second largest software services company, today said it is acquiring Noah Consulting LLC, an information management consulting service provider for the oil and gas industry, in an all-cash deal worth $70 million.

Infosys, a global leader in information technology, outsourcing and next generation services, today announced the signing of a definitive agreement to acquire Noah Consulting, LLC, a leading provider of advanced information management consulting services for the oil and gas industry.

Noah Consulting helps upstream oil and gas companies, including super majors, independents and oil field service companies plan, architect and deploy information solutions to unlock the value of their oil and gas assets.

''Noah's deep domain expertise in upstream oil and gas, coupled with their tools, solution accelerators and proprietary methodologies, makes them a leader in driving strategic data management engagements,'' Infosys said in a release.

''This acquisition combines Noah's deep industry knowledge, information strategy planning, data governance and architecture capabilities with Infosys' ability to provide technology and outsourcing services on a global scale to oil and gas clients,' it added.

The deal comes at a time when the oil prices are falling and there is a need for the oil and gas industry to improve efficiency through use of data analytics.

"Our oil and gas clients are adjusting to a new normal of lower oil prices. There is an urgency to improve the efficiency and effectiveness of their operations in a safe and reliable manner. This acquisition is part of Infosys' strategy to bring next generation data analytics solutions to the oil and gas industry" said Sanjay Purohit, EVP and global head of Infosys Consulting.

"The upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment. This requires a well-defined and executed information and data management strategy that will allow companies to increase efficiency across the lifecycle - from exploration to production. With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally," Rajesh Murthy, EVP and global head of energy, communications and services, Infosys, said.

John Ruddy, president of Noah Consulting, said, "We are excited about the new capabilities that the combination of Noah and Infosys will bring to our clients. Together, we can effect transformational change for our oil and gas clients by using information management to integrate supply chain, safety, environmental and financial data with geoscience, engineering and other operational and technical data - an industry challenge that has never been addressed effectively. We look forward to making a difference together."

The transaction is expected to close before the end of the third quarter of FY 2016, subject to customary closing conditions.